HCW Biologics Files Q2 2025 10-Q
Ticker: HCWB · Form: 10-Q · Filed: Aug 18, 2025 · CIK: 1828673
Sentiment: neutral
Topics: 10-Q, financial-report, biotech, debt-equity
TL;DR
HCW Biologics Q2 10-Q is in: convertible notes and equity deals detailed.
AI Summary
HCW Biologics Inc. filed its 10-Q for the period ending June 30, 2025. The filing details various financial activities, including transactions related to convertible promissory notes and equity purchase agreements. Notably, the company's fiscal year ends on December 31st, and this report covers the second quarter of 2025.
Why It Matters
This filing provides investors with an update on HCW Biologics' financial health and operational activities during the second quarter of 2025, including details on debt and equity transactions.
Risk Assessment
Risk Level: medium — The filing indicates ongoing financial transactions and potential debt restructuring, which can introduce financial risks for the company.
Key Numbers
- 20250630 — End of Reporting Period (This is the end date for the financial data presented in the 10-Q.)
- 2025-06-30 — End of Reporting Period (This is the end date for the financial data presented in the 10-Q.)
Key Players & Entities
- HCW Biologics Inc. (company) — Filer of the 10-Q
- 20250630 (date) — End of the reporting period
- 2025-06-30 (date) — End of the reporting period
- Scott T. Garrett (person) — Board of Directors Chairman
- Convertible Promissory Notes (financial_instrument) — Mentioned in relation to transactions
- Equity Purchase Agreement (legal_document) — Mentioned in relation to transactions
FAQ
What were the key financial transactions for HCW Biologics during the period ending June 30, 2025?
The filing mentions transactions related to convertible promissory notes and equity purchase agreements, with specific dates like May 15, 2025, and April 1, 2025, to June 30, 2025.
Who is identified as a key individual in this filing?
Scott T. Garrett is identified as the Chairman of the Board of Directors.
What is the fiscal year end for HCW Biologics?
The fiscal year end for HCW Biologics is December 31st.
What specific types of financial instruments are mentioned in the filing?
The filing mentions Convertible Promissory Notes and Pre-Funded Warrants.
What is the SIC code for HCW Biologics?
The Standard Industrial Classification (SIC) code for HCW Biologics is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 4,541 words · 18 min read · ~15 pages · Grade level 14.8 · Accepted 2025-08-18 14:54:24
Key Financial Figures
- $0.0001 — h registered Common Stock , par value $0.0001 per share HCWB The Nasdaq Stock Mar
Filing Documents
- hcwb-20250630.htm (10-Q) — 2210KB
- hcwb-ex10_12.htm (EX-10.12) — 72KB
- hcwb-ex10_13.htm (EX-10.13) — 149KB
- hcwb-ex10_14.htm (EX-10.14) — 4KB
- hcwb-ex10_15.htm (EX-10.15) — 2KB
- hcwb-ex10_16.htm (EX-10.16) — 2KB
- hcwb-ex10_17.htm (EX-10.17) — 16KB
- hcwb-ex31_1.htm (EX-31.1) — 16KB
- hcwb-ex31_2.htm (EX-31.2) — 16KB
- hcwb-ex32_1.htm (EX-32.1) — 11KB
- hcwb-ex32_2.htm (EX-32.2) — 11KB
- img227634972_0.jpg (GRAPHIC) — 105KB
- img227634972_1.jpg (GRAPHIC) — 24KB
- img227634972_2.jpg (GRAPHIC) — 97KB
- img228558493_0.jpg (GRAPHIC) — 131KB
- img229482014_0.jpg (GRAPHIC) — 145KB
- img229482014_1.jpg (GRAPHIC) — 54KB
- img230405535_0.jpg (GRAPHIC) — 60KB
- img230405535_1.jpg (GRAPHIC) — 186KB
- img230405535_2.jpg (GRAPHIC) — 190KB
- 0000950170-25-109642.txt ( ) — 9427KB
- hcwb-20250630.xsd (EX-101.SCH) — 1016KB
- hcwb-20250630_htm.xml (XML) — 1274KB
Financial Statements
Financial Statements 1 Unaudited condensed interim financial statements as of and for the three and six months ended June 30, 2024 and June 30, 2025: Balance sheets 1 2 3 4
Notes to financial statements
Notes to financial statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.
Controls and Procedures
Controls and Procedures 44 PART II. OTHER INFORMATION 45 Item 1.
Legal Proceedings
Legal Proceedings 45 Item 1A.
Risk Factors
Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 48 Item 4. Mine Safety Disclosures 48 Item 5. Other Information 49 Item 6. Exhibits 50
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. HCW Biologics Inc. Condensed Balance Sheets December 31, June 30, 2024 2025 Unaudited ASSETS Current assets: Cash and cash equivalents $ 4,674,572 $ 2,438,962 Accounts receivable, net 582,201 21,611 Prepaid expenses 328,181 295,543 Other current assets 113,528 141,009 Total current assets 5,698,482 2,897,125 Investments 1,599,751 3,348,438 Property, plant and equipment, net 22,909,869 22,635,596 Other assets 28,476 28,477 Total assets $ 30,236,578 $ 28,909,636 LIABILITIES AND STOCKHOLDERS' DEFICIT Liabilities Current liabilities: Accounts payable $ 22,332,261 $ 19,354,476 Accrued liabilities and other current liabilities 981,940 1,070,421 Short-term debt, net 6,314,684 6,421,204 Total current liabilities 29,628,885 26,846,101 Debt, net 7,377,865 367,151 Contingent liability - related party — 1,748,356 Total liabilities 37,006,750 28,961,608 Commitments and contingencies (Note 11) Stockholders' deficit: Common stock: Common, $ 0.0001 par value; 250,000,000 shares authorized and 1,113,532 shares issued at December 31, 2024; 250,000,000 shares authorized and 2,146,601 shares issued at June 30, 2025 111 215 Additional paid-in capital 93,785,854 104,628,555 Accumulated deficit ( 100,556,137 ) ( 104,680,742 ) Total stockholders' deficit ( 6,770,172 ) ( 51,972 ) Total liabilities and stockholders' deficit $ 30,236,578 $ 28,909,636 See accompanying notes to the unaudited condensed interim financial statements. 1 HCW Biologics Inc. Condensed Statements of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2025 2024 2025 Revenues: Revenues $ 618,854 $ 6,550 $ 1,745,566 $ 11,615 Cost of revenues ( 438,443 ) ( 5,240 ) ( 950,408 ) ( 9,292 ) Net revenues 180,411 1,310 795,158